EIB signs SME finance deals with Malta, Slovakia
European Investment Bank - By Palauenc05
(LUXEMBOURG) - The European Investment Fund has signed new SME financing agreements with banks in Malta and Slovakia to provide low-cost loans to small- and medium-sized enterprises (SMEs) and mid-caps.
The agreements benefit from the European Fund for Strategic Investments (EFSI) guarantee, the heart of the Investment Plan for Europe.
The agreement between the EIF and the APS Bank is the first EFSI deal to be signed in Malta, taking the total EU countries with EFSI financing to 27.
As a result of the Investment Plan's support, APS Bank will provide EUR 12 million in low-cost loans to innovative Maltese SMEs.
As for Slovakia, the EIF signed two EFSI deals with Ceskoslovenská obchodná banka a.s (CSOB) amounting to EUR 135 million for SMEs and mid-caps.
Around 6,000 SMEs and micro-enterprises in Slovakia will be able to access new finance, which will be guaranteed by the Juncker Investment Plan. Investment under the Plan, which is set to be substantially expanded with a doubling of its capacity, can be combined with other sources of EU funding.
Due to high demand, the EFSI steering board in July scaled up the SME window of the EFSI, increasing it by EUR 500 million, allowing more EFSI-backed equity and loans to reach European SMEs.